Marketing Mix of a Bank

Running head: MARKETING MIX OF A BANK
MARKETING MIX OF A BANK
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1MARKETING MIX OF A BANK
Table of Contents
Introduction....................................................................................................................2
4 Ps of marketing mix of Royal Bank of Canada...........................................................2
Product.......................................................................................................................2
Price............................................................................................................................3
Place...........................................................................................................................4
Promotion...................................................................................................................4
Conclusion......................................................................................................................5
References......................................................................................................................6
Appendices.....................................................................................................................7
Data based on analysis of Royal Bank of Canada..........................................................7
Appendix 1.................................................................................................................7
Appendix 2.................................................................................................................8
Appendix 3.................................................................................................................9
Appendix 4...............................................................................................................10
Appendix 5...............................................................................................................10

2MARKETING MIX OF A BANK
Introduction
The Royal Bank of Canada or RBC is a multinational finance based organization that
has its base in Canada. The organization has developed its position as the biggest bank in the
country with respect to the revenues and market based capitalization. The bank mainly serves
more than 16 million consumers and has employees around 80,000 employees all over the
world. The bank had been established in the year 1864 in Halifax, Nova Scotia. The corporate
headquarters of the organization are located in Toronto, Ontario. The organization provides
its services in personal banking and commercial banking based areas (Rbcroyalbank.com.
2019).
The analysis will be based on the analysis of the marketing mix of the Royal Bank of
Canada. The 4 Ps of marketing mix of the organization will be analysed in detail based on
product, price, promotion and place related factors.
4 Ps of marketing mix of Royal Bank of Canada
The marketing mix based factors of The Royal Bank of Canada can help in analysing
the products that are offered by the organization to the consumers, the price, the distribution
or place and the promotional activities that have been performed. The factors are able to
provide support based on the marketing strategies that can be implemented by the Royal
Bank of Canada (Efanny et al., 2018).
Product
Royal Bank of Canada mainly operates five major business segments that include,
personal banking, commercial banking, wealth management, insurance, capital markets based
products, investor based services. RBC is able to provide different types of financial services
that include, mortgages, accounts, car loans, personal loans, investments made in bonds and
stocks, mutual funds. The bank is able to provide better levels of services to the customers

3MARKETING MIX OF A BANK
that are based on finding the right types of accounts, saving as well as investing, exploring
the mortgage based options, loans and credit cards. The services that are provided to the
customers by The Royal Bank of Canada are based on huge number of ATMs in different
areas (Evans, 2016). The online banking based services that are offered by the organization
are also considered to be a major part of the personal banking operations. Mobile banking
based services are also offered by the organization to large number of customers. The reach
of the organization has been increased with the help of mobile banking and online banking
based services (Fan, Lau & Zhao, 2015). Mortgages are also important personal banking
related services that are offered by The Royal Bank of Canada. Retirement planning related
services are also offered by the organization as a part of personal banking. House sales based
opportunities are provided by The Royal Bank of Canada in order to the reduce the issues that
are faced with respect to the real estate based agents (Filbert & Anthony, 2018).
Price
The prices of products and services that can be offered by the target customers based
on personal banking department of The Royal Bank of Canada are important for proper
revenue generation. The financial environment of the country is able to affect the prices of
different products which are provided by the organization. The pricing based policies that
have been developed by the organization are divergent in nature and the structure is affected
by the changes that take place in the financial environment (Grădinaru, Toma & Marinescu,
2016). The levels of competition that have been faced by the organization are also able to
influence the prices of different products which are provided to the consumers. The rates of
mortgage have been increased by The Royal Bank of Canada recently and the services have
been offered based on the pricing strategy developed by the organization. The policies and
regulations of the organization are mainly controlled and regulated by the regulatory body
and the government of the country (Gummesson, 2017).